Harsh Goenka tweets stock market tips for netizens

RPG group chairman Harsh Goenka likes to share his thoughts and wisdom on Twitter interacting with netizens who wholeheartedly respond and interact with his tweets. He tweeted “Kabir on stock market..” which is written in a unique Doha style.

Meanwhile, the stock benchmark Sensex fell more than 100 points in early trading on Thursday, tracking losses in index majors ICICI Bank, HDFC twins and ITC amid ongoing outflows from foreign funds.

Despite a slightly higher start, the 30-stock index turned red, trading 125.54 points or 0.22 percent lower at 58,215.45. Similarly, the Nifty was trading 30.15 points or 0.17 percent lower at 17,384.90.

ICICI bank was the biggest loser in the Sensex pack, losing about 2 percent, followed by NTPC, Bajaj Finserv, HUL, Asian Paints, ITC and HDFC.

On the other hand, Tech Mahindra, Reliance Industries, Kotak Bank and Infosys were among the winners.

In the previous session, Sensex was down 323.34 points, or 0.55 percent, at 58,340.99, and Nifty fell 88.30 points, or 0.5 percent, to finish at 17,415.05.

Foreign Institutional Investors (FIIs) were net sellers in the capital market, as they held equities worth 5,122.65 crore on Wednesday, according to data from the exchange.

“In the bull versus bear fight that is now going on in the market, bear fodder is the ongoing sale by FIIs who have sold shares worth approximately 18,000 crore over the last six days. This continued sale is in line with the view of most foreign brokers that valuations are too high,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The buy-on-dips strategy that has worked well since April 2020 is now not working, he said, adding that valuations will remain high after this correction.

US stocks ended largely positive in the overnight session.

Meanwhile, the international oil benchmark Brent oil fell 0.01 percent to $82.24 a barrel.

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